Merchandising Executive-Category

Job DescriptionUnique Job RoleExecutive - Category Merchandising JewelleryFunctionMerchandising Reporting toManager Category Merchandising JewelleryBusinessJewellery Grade Date---Job DetailsTo ensure right product/ merchandise mix in the stores by analysing overall market trends & competition while studying the respective store catchment areas to ensure continuity in the product supply to improve the profit marginsExternal Interfaces

Internal Interfaces

• Vendors 
• Third Party Service Providers
• Regional sales teams 
• Design teams
• Product and Brand teams
• ISCM teams 
• Support teams
• Job RequirementsEducationGraduate Relevant Experience0- 5 years Behavioural SkillsCustomer orientation
• Detail orientation 
• KnowledgeCategory management experience
• Analytical ability

1. Process ContributionsProcess ContributionProcess OutcomePerformance MeasureMerchandising: Planning & forecasting: Demand planningCreate the three months rolling sales forecast and develop the sales variance & intervention recommendations
2. Provide inputs to develop the tactical offer sale profitability forecast

• Annual business plan
• Year on Year business growth

1. Merchandising: Planning & forecasting: Annual Merchandising planningCollect feedbacks from various stakeholders like customers, vendors and store staff and provide inputs on the current Tanishq product universe
2. Support the team to develop the merchandising plan with Tanishq strategic growth levers as the fundamental building blocks
3. Collate data and supporting information for sign off on the merchandising plan with the senior management 
4. Identify the list of focus stores based on inputs from regional teams like wedding destination stores etc.

• Annual Merchandising plan
• Year on Year business growth

1. Merchandising: Planning & forecasting: Gross Contribution planningCoordinate in creating the mark-up model (stone & making charges) on F1 & F2 
2. Organise gross contribution benchmarking activity across relevant competitors 
3. Provide inputs to design discount pay-out and variance management and seek final approval from Head Merchandising Jewellery
4. Provide support to develop the offer/ discount management activity along with the team and seek approval from Head Merchandising Jewellery on the designed plan
5. Provide inputs to design the making charge variance across regions and seek approvals on changes from Head Merchandising Jewellery

• Gross Contribution plan
• Year on Year margin growth

1. Merchandising: Pricing: Promotion & Markdown strategyProvide inputs to conduct evaluation of scheme & promotions effectiveness and propose countermeasures 
2. Identify poor performing products and suggest improvements 
3. Ensure the Seasonal offer deployment and coordinate with relevant teams like retail, commercial, IT etc. post the offer for smooth transition 

• Promotion Calendar 
• Year on Year business growth 
• Year on Year margin growth
• Customer satisfaction score 

1. Merchandising: Policy Changes Support the team and provide information to design policy alteration to accommodate low GC products using geography and product attributes

• Policy documents 
• Customer satisfaction score

1. Merchandising: PricingProvide support to conduct the competitive Price Benchmarking exercise
2. Create the product attribution for price benchmarking
3. Provide support for new product pricing through attribute-based pricing, AMC revisions and gross margin review

• Pricing model 
• Year on Year revenue growth
• Customer satisfaction score

1. Merchandising: Product Management: Product Portfolio ManagementProvide support to manage the entire product lifecycle from inception to product retiral
2. Provide inputs on range expansion within a collection
3. Collate the BBPM performance evaluations for all vendor returns
4. Allocate the New Product Introduction tagging on the identified products 
5. Provide inputs on the model stock recommendations for assortment planning
6. Assist to raise indents for regular products - full trousseau, best seller during season etc.
7. Identify new dedicated product library to consume slow moving inventory to improve operational efficiency 
8. Provide support and information to develop the sell through analysis for lifecycle management and approve countermeasures 

• Life cycle management document 
• Year on Year business growth
• Customer satisfaction score

1. Merchandising: Product Management: New Product DevelopmentCollate the bottom-up feedback on new products 
2. Provide support and information to create the assortment plan for new products - region/customer segment specific based on inputs
3. Provide support to conduct periodic canvassing with L3s for indent enhancement, seasonal up stocking etc. to improve new product penetration
4. Provide support to introduce of future scalable collections/concepts via Pilots - VPIM, BBPM

• New product introduction calendar
• Year on Year business growth
• Customer satisfaction score

1. Merchandising: Inventory management: Norms finalizationDevelop the boutique level split of category based on the sale target evaluation 
2. Develop the minimum range and norms at store level based on sales plan and turn targets 
3. Support in cascading the norms developed across all stores and ensure deployment 

• Store-wise norms 
• Customer satisfaction score
• Number of cases of non-availability of product  

1. Merchandising: Inventory management: Stock turnSupport the teams to ensure constant availability of best sellers, new products and ad variants in the stores 
2. Manage the stock levels in the special intervention stores and categories
3. Support in identifying and creating timely IBTTs for ageing prevention
4. Provide inputs on the best deal stock rotation 
5. Provide inputs on regular and special melting recommendations 

• Stock turn policy 
• Customer satisfaction score
• Number of cases of non-availability of product  

1. Merchandising: Inventory management: New store indentingDevelop the ROI calculations for store- wise assortment planning
2. Create the list of model stock and raise the first indent 
3. Provide inputs on the first month buffer for a new store and place indents 
4. Provide inputs to develop strategies for front end up selling/cross selling
5. Develop the preliminary level of planogram in coordination with Retail ops and VM team 

• Store-wise norms 
• Customer satisfaction score
• Number of cases of non-availability of product  

1. Retail Operations: Store Operations: Training & DevelopmentProvide support to create and develop the training Content and Modules to enable the sales staff

• Training calendar
• Year on Year business growth
• Number of customer complaint reduction 

Category Management, Data Analytics, Product Knowledge, Jewelry Industry Experience (preferred)

Merchandising / Inventory Management